
LegalZoom.com, Inc. (LZ)
Whether directors and officers of LegalZoom.com, Inc. (LZ) breached their fiduciary duties to the company and its shareholders.
Investigation
12/13/2021
Initial Lawsuit
12/13/2021
Lawsuit Progression
02/11/2022
Investigation regarding Exicure’s statements about alleged improprieties committed during the XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia.
11/15/2021
In a notification of late filing of its Form 10-Q filed with the SEC, Exicure disclose the hiring of external counsel to conduct an interval investigation:
“On November 9, 2021, the Audit Committee of the Board of Directors of the Company was notified of a claim made by a former Company senior researcher regarding alleged improprieties that researcher claims to have committed with respect to the Company’s XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia. . . The Company is currently unable to predict the timing or outcome of the investigation.“
Stock Impact
Close | Previous close | Price variation | Percentage variation |
---|---|---|---|
$0.78 | $1.07 | $-0.29 | -27.38% |
This is a class action on behalf of persons and entities that purchased or otherwise acquired Exicure securities between March 11, 2021 and November 15, 2021, inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors:
(1) that there had been certain improprieties in Exicure’s preclinical program for the treatment of Friedreich’s ataxia;
(2) that, as a result, there was a material risk that data from the preclinical program would not support continued clinical development; and
(3) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
The lead plaintiff deadline has passed, we will update this page as the lawsuit progresses.
Last event retrieved on 09/14/2022.
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